Conclusions:
- Remember your Position Size Limits
- Try using StopLimit Buy Orders on 5 min Setups when you have time
Action:
Series of Low Volume 5 Min Red Pullback Candles, Bought 1 Min HoH, Stop to Recent Low, FPT Not Determined
Stopped Out
Analysis:
5 min Setup looked ok, just one more candle though
Stop Limit Order would've been nice here, even an OCO Order
If I had used a StopLimit Order set to just above the high of the previous 5 min candle, I would've waited for an actual 5 min HoH
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-10-27 11:00:15 | SRRK | buy | $24.870 | long |
2020-10-27 11:00:15 | SRRK | buy | $24.870 | long |
2020-10-27 11:00:15 | SRRK | buy | $24.870 | long |
2020-10-27 11:00:31 | SRRK | sell | $24.570 | 0 |
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